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Fedís New Wordplay to Yield Negligible Results

A forecast is a forecast. In many cases, itís not worth the paper itís printed on.
Some forecasts are more important than others, which is not to say theyíre more accurate, just that they matter more. The Federal Reserveís forecasts belong in this category.
Unlike the average Wall Street prognosticator, the Fed has the unique ability to make its forecast become reality through its manipulation of the federal funds rate (the overnight rate at which banks lend to one another) and control of the monetary base (ARDIMTBA). Thatís why the central bankís forecasts, and whatís required to achieve them, matter.
Starting with the Jan. ... (full story)